Everyone with a mortgage is required to purchase a homeowners’ insurance policy. Being a long-time homeowner doesn’t make you exempt. Just because disaster hasn’t struck in 20 years doesn’t mean that it won’t strike in the years to come or even tomorrow. Read and understand the tips in this article if you want to find a great policy.
Shop for insurance companies selling health, life, car and home owner’s insurance. Multiple policy discounts can save you hundreds of dollars in lower yearly insurance premiums. Managing your policies is also easier as usually one agent can answer all your questions and you can pay your premiums at the same location.
If you have worries about people being injured on your property – although I cannot imagine why, unless you own a swimming pool – you do have coverage under your home owner’s insurance for personal liability. This coverage is typically $100,000, but you can have it raised if you feel that is insufficient coverage for your home.
Consider raising the deductible on your home insurance policy. A higher deductible on your insurance policy can significantly lower your annual home insurance premiums. Unfortunately, by raising the deductible, your home insurance company will no longer pay for small claims, such as broken window repair, leaky pipe repair and minor wind and storm damage repairs.
When you buy real estate you have the option to purchase title insurance. It is a form of insurance which insures against financial losses due to defects in the title. The insurance company will defend the title in a possible lawsuit or reimburse the owner for his monetary loss. The insurance policy costs less than a hundred dollars when the lender requires a title policy. In case of a lawsuit the policy can provide you with the protection you need. It will be an extremely rare case that you will need title insurance; however you can’t pick up the phone and call an attorney for under $100.
The home you have just bought is probably the largest investment in your life. It is a natural instinct to protect the value of your property. The way to do that is to purchase a home owner insurance policy, which is basically a contract between an insurance company and the home owner. As long as the home owner keeps paying the monthly premiums, the insurance company pays for certain losses such as damage caused by human actions or natural disasters.
To help lower your annual homeowner’s insurance premiums, you may want to consider raising your deductible. You will want to do your homework on this, however, as smaller claims such as broken windows or damage from a leaky pipe may end up costing you, as you will be required to pay them. Ask your agent questions about what happens if…. Or I’m I covered for …. I once had a policy that would not cover sewer back up or broken pipes. I cancelled that policy after I was informed of the lack of coverage! I thought my agent should have better educated me on lack of coverage. Luckily we never had damage with that sub standard policy! Ask questions and educate yourself about insurance. You don’t know the coverage you have until you have a claim. I personally shop my insurance yearly to save money. I use several insurance companies since some offer better prices on certain policies. – Dawn Kornovich
Sunset From the Boat Dock
Gallatin TN
Tennessee Home Loans With Dawn 